4 Step Action Plan for Sales Growth
As we have half completed July of the 2020 & in some countries lockdown is still in force. Companies are still struggling over fixed expenses like salary, but it’s a great time to reorganize, re-calibrate, and prepare our sales teams to hit the year-end sales goals you’ve set for them.
Maybe your team has turned slightly off track since the lockdown was forced them to stay in their home. By assessing you’re your weak point in sales and creating an updated action plan, your team will have a roadmap to follow and a renewed motivation for achieving the revenue goals which you have set for your company in 2020.
Follow these 4 step action plan to achieve your revenue goals after lockdown:
Step 1- Analyse the Past
Analysing trends in your results up to this point in last year allows you to identify challenge areas and determine the next steps for improvement.
Ideally, your team should be frequently conducting post-sale analyses and documenting the findings. This process is often overlooked as salespeople are enthusiastic to move on to the next sales opportunity, but the results are really effective for creating a sales strategy moving forward.
Make it a point to learn from your losses and repeat the things that have been successful in the past.
It’s also essential to analyse your sales funnel by stage. That allows you to look back and see where your salespeople are losing opportunities.
Is it in the early stages or in the late stages? Knowing the answer to that will show you where to focus like skills, training and coaching.
Step 2- Identify Challenge Areas
Based on the data you collected in Step 1, determine where skill gaps exist. For example, if conversion ratios are low in the early stages, your team likely needs support with pre-call investigation, qualifying prospects, questioning, or establishing trust early on.
Image of two young businessmen using touchpad at meeting
And if conversion ratios are low in the later stages of the sales funnel, you may need to focus on skills such as building value, managing objections, gaining commitment, and negotiating price.
Metrics aren’t the only way to identify hurdles that stand in the way of maximum output for your team. One of the most effective methods is simply to ask them!
Ask each salesperson what challenges they’re facing out in the field with prospects and customers, and get their input on what sort of tools or resources would help them improve their performance. Asking feedback will also make your reps more open to any training or coaching you move forward with.
Step 3- Implement Steps to Course Correct
Once you’ve identified your challenge areas, you need to decide the best ways to support your team to reach the goals you’ve set for them. Focus on the development areas that will lead to the highest return on your investment of time and resources and get you closer to goal achievement.
It may be that your team is struggling from a lack of qualified leads, and your first step needs to be aligning your Marketing or updating your marketing strategy. Or, if your team is consistently struggling with price pressure, you may decide they need some skills training to help them build value and hold their ground with prospects and customers.
Whatever strategy your unique situation calls for, you should work with each salesperson individually to create a detailed business development plan.
Working backwards from the goal, decide and record the activities and objectives that need to be accomplished on a daily, weekly, monthly, and quarterly basis in order to succeed.
Step 4 – Coach for Ongoing Success
It’s widely accepted by this point that a sale coaching is the activity with the greatest impact on sales effectiveness. But in general formal sales coaching strategies tend to be poorly executed or non-existent.
Create a regular coaching rhythm with your sales reps and make the meetings about development, not review. You can use this time together to ensure they’re on track with their plans, reinforce new skills they’ve learned, and look for trends in what they’re doing well and where they can improve. And if an aggressive sales target is causing them stress, make it seem more practicable by breaking the goal into smaller, easier to digest chunks.
boost sale with these Action Plan for Sales Growth | ARSLOK
Conclusion
When it comes to maximizing sales and meeting your organization’s performance objectives, creating an action plan should be your first priority. If you need help defining your course of action or setting it into motion, ARSLOK has a team of sales effectiveness experts who are happy to help you reach your goals.
Where to go from here:
If you would like to more tools to business success, check out my articles on:
Things that will impact Your Sales Growth after lockdown in 2020
PORTER’s Five Forces – a framework to analyse your industry
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